We advised the initial purchasers on the offering

Davis Polk the representative of the initial purchasers in a Rule 144A offering by Ciena Corporation of $2.875 billion aggregate principal amount of 0.00% convertible senior notes due 2031, including $375 million principal amount of convertible notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional convertible notes. In addition, Davis Polk advised counterparties to convertible note hedge and warrant transactions in connection with the convertible notes offering.

Ciena is a network technology company, providing hardware, software and services to a wide range of network operators and enabling enhanced network capacity, service delivery and automation. Its solutions support network traffic across a wide range of applications, including cloud, voice, video, data and artificial intelligence. Ciena’s network solutions are used globally by cloud providers, service providers and other network operators across multiple industry verticals. Ciena’s common stock is listed on the New York Stock Exchange under the symbol “CIEN.”

The Davis Polk corporate team included partner Derek Dostal and associates Soo Kyung Chae and Jonathan P. Trojan-Greenberg. The equity derivatives team included partner Mark M. Mendez, counsel M. Faisal Baloch and Gregory E. Marchesini and associates Ji Hwan Kim, Selena (Zhijun) Fu and Zifeng Zeng. Partner Lucy W. Farr provided tax advice. All members of the Davis Polk team are based in the New York office.

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